FRANKFURT: Commerzbank said it had completed a 2.5 billion euros ($3.2 billion) capital increase, a move that allowed it to repay part of a bailout given to Germany's second-largest lender in 2009.

Earlier this month, Commerzbank said it was offering 556 million new shares at a 55 percent discount to repay funds it owes to the German government and insurer Allianz.

Commerzbank said in a statement on Wednesday that 99.7 percent of subscription rights were exercised in the capital increase, at a price of 4.50 euros per share.